“Everyone’s pursuing the same business model,” says IBISWorld Senior Analyst Darshan Kalyani. Factor in a dependence on a healthy housing market and the picture gets even more complicated. Unlike ride-sharing, moving services don’t have frequent repeat customers, and jobs are heavily concentrated in the summer. Bellhops and other startups, like Lugg and Dolly, are hoping to tie up those loose ends in a single platform, but it’s a tough sell. Despite generating over $18 billion in revenue annually, the moving industry is notoriously fragmented, with small-scale movers making up nearly 50% of the market. It’s an impressive offering, but whether Bellhops can become a fixture in how people move is still an open question. “Rather than build a product that runs out of the gate, they did it manually for a few months, figured out the feature set they needed, and built the product around that.”
BELLHOP SALARY SERIES
“I think they are very thoughtful about the crawl, walk, run strategy,” says Courtney Robinson, the Advance Ventures General Partner who led the Series C round.
Marklin says it is the fastest growing sector of their business. This year, they began offering this service over long distances. Bellhops will load your things, ship them out, and unload them at the destination.
BELLHOP SALARY FULL
While the early platform was dedicated to providing labor for moves, the company has since expanded and now provides full end-to-end service. “, he took a company that was already growing rapidly and applied rocket fuel to it.” “Luke doesn’t toot his own horn much, but this is a guy who went up the ranks of Uber and ended up running the Southeastern United States,” says Ciporin. By mid-2017, that search took them to Luke Marklin, who at the time was a General Manager at Uber based in Atlanta. “As it started to grow, we realized it needed a CEO who had scaled before.” With the blessing of Doody and Vlahos, the search for a veteran to take the reins began (Doody remains on at Bellhops as President and Chairman of the Board Vlahos left in 2017 to pursue other ventures). “We invested when was much smaller and regionally focused,” says Dan Ciporin, the General Partner at Canaan who led the Series B.
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